Welcome back to what will be a frenzied week on Wall Street.
Merger Monday Is Alive
Despite markets hovering near record highs, corporate chieftains are finding value (at least in their eyes).
Barrack Gold ATX and Rangold Resources GOLD said Monday they will combine in a $18.3 billion transaction. The deal, which comes following a year under-performance for both natural resource stocks, will form the largest gold miner on the planet.
Meanwhile, Sirius SIRI said today it will buy streaming music service Pandora P . The deal values Pandora — who has seen its stock surge 75% this year — at $3.5 billion, a 13.8% premium to Pandora’s 30-day trading average.
Weed Stocks
After a wild week, Tilray’s TLRY investors should expect more volatility. Shares of the weed grower tanked 13% in pre-market trading today amid several weekend stories that questioned the company’s valuation and business model.
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